LMAX Close Wellington open
USDJPY 107.101 107.04-08 | EURUSD 1.14037 1.1392-99 | AUDUSD 0.73667 0.7321-74 | NZDUSD 0.68386 0.6812-37 | USDCAD 1.29068 1.2954-57 | USDCHF 0.97257 0.9720-25 | GBPUSD 1.44289 1.4412-18 |
LMAX Ranges 6am London time
EURUSD 1.14121 | 1.13806
USDJPY 107.635 | 107.067
GBPUSD 1.44411 | 1.44065
USDCHF 0.97353 | 0.97063
AUDUSD 0.73859 | 0.73496
USDCAD 1.29555 | 1.29201
NZDUSD 0.68486 | 0.68194
EURCHF 1.10878 | 1.10761
EURGBP 0.79065 | 0.78905
EURJPY 122.506 | 122.027
- EUR: A quiet session overall with the Euro’s struggling in early trading to drift towards the 1.1380 levels before USD’s started to drift lower across the board and the Euro managed to make its way above the 1.1400 levels to test into the 1.1410 areas into the grey hour, Topside offers light through to the 1.1480 levels and likely to continue to the 1.1500 areas with possible weak stops beyond and the market then seeing light selling only through to the 1.1550 area and then increasing over the next 50 pips or so. Downside weakness through the 1.1380-70 areas will see light congestion through to the 1.1320-00 areas and then likely better bids through the level.
- GBP: Cable ranged quietly around the opening 1.4420 areas levels before weakly testing to the 1.4410 levels, USD weakness then saw the cable starting to rise through to the grey hours with the market testing above the 1.4440 levels briefly, topside offers through the 1.4450 levels likely to be light with the offers not likely to strengthen until the market moves through to the 1.4520 levels with the likelihood of some minor stops through the level and the market opening for a further test of the 1.4600 levels. Downside bids into the 1.4400 areas and likely to extend a little through the level, further limited bids likely as the market pushes through the 1.4350 areas before the 1.4300 stronger areas become vulnerable.
- JPY: USDJPY ran a little higher from the opening with the pair rising with the comments from the BoJ helping the move to the 107.60 areas before the market dipped back a little even so the market has kept in touch through the later part of the session and moves into the grey hours holding the 107.50 areas. Topside offers likely into the 108.00 areas and then possibly struggling with offers moving through from there into the 108.50 levels, only a strong break back through the 109 levels opens the topside to the ranges of last month, Downside bids light through 107.00 with those bids likely to continue weakly to a stronger 106.50 areas with weak stops likely below the level however, the downside move is probably for the moment contained in the 105.50 area.
- AUD: A very quiet session for the Oz with the market moving around the 0.7370-80 levels for the most part having lifted off the 0.7360 areas on the opening, downside bids into the 0.7350 areas and although cleared on the NFP is likely to still have bids continuing to the 73 cent levels. Topside offer on a push through the 74 cent level are likely to be thin on the ground and the market opening to a possible short squeeze however, this would go against the fundamental situation for the time being.
China Shouldn’t Loosen Money Conditions for Growth: Daily
China Should Give High Priority to De-Leveraging: People’s Daily
IMF’s Lipton Says China’s Economy in Transition Period: News
China Banks May Need to Raise Capital for Bad Loan ABS: Fitch
Finance Minister Aso Says Japan Has Means to Intervene
Japan Considering Spending 1t Yen for Kumamoto Relief: Nikkei
Some BOJ Members: Excessive Expectations for More Easing Created
BOJ Board Member Sakurai’s Credentials Questioned by Shukan Post
Suga: Aware of Tabloid Report Doubting Resume of BOJ’s Sakurai
Japan’s March Cash Earnings Rise 1.4%; Est. +0.6%
Greece, Creditors to Discuss Greek Debt Monday: Greek Official
Tsipras Says Eurogroup Significant Opportunity for Greek Debt
- Korea’s Military Talks Offer Has No ’Sincerity’: S. Korea
Australia ANZ April Job Advertisements Fall 0.8% M/m
Key Says New Zealand Doesn’t Meet OECD Criteria to Be Tax Haven
Actual = A | Consensus = C | Previous = P | Revised = R All timings GMT
JPY Labour Cash Earnings Y/Y Mar A 1.40% | C 0.60% | P 1.00% | R 0.70%
JPY Consumer Confidence Index Apr A 40.8 | C 40.8 | P 41.7
06:00 EUR German Factory Orders M/M Mar C 0.70% | P -1.20%
07:15 CHF CPI M/M Apr P 0.10%
07:15 CHF CPI Y/Y Apr P -0.70%
08:30 EUR Eurozone Sentix Investor Confidence May C 6.1 | P 5.7
12:15 CAD Housing Starts Apr C 195K | P 204.3K
14:00 USD Labour Market Conditions Index Change Apr P -2.1
China End-April Forex Reserves at $3.22t; Est. $3.20t
China’s April Exports Rise 4.1% Y/y in Yuan Terms
China April Exports Fall 1.8% Y/y in USD; Est. Flat
EU Commission Says Greek Bailout Program Broadly on Track
Greece To Remove Impediments to NPL Sales: EU Document
New Draft Greece Pact Includes Contingency Measures of 2% GDP
EU’s Juncker Expects Refugee Crisis to Ease Soon: Funke
Greek Pension Reform Targeted by Lawmakers Before Bailout Review
Saudi Oil Minister Al-Naimi Replaced by Al-Falih: Al Arabiya
Saudi Replaces Central Bank Governor in Major Reorganization
Singapore’s Ruling Party Candidate Wins Bukit Batok By-Election
North Korea’s Kim Says He Won’t Use Nukes Unless Attacked
Kim Jong Un Calls for Talks With South Korea to Ease Mistrust
N.Korea to Face Deeper Isolation for Nuclear Arms, S.Korea Says
North Korea Must Give Up Nuclear Arms for Talks, S. Korea Says
Turnbull Calls Australia Election for July 2 in Tax Showdown
Turkey’s Nationalist Party Ready to Support Government: Hurriyet
Turkey Strikes Islamic State Targets in Syria, Killing 55: AA
New Turkey PM Candidate to Be Announced After May 18: Hurriyet
S.Africa Says Achieving Targets Shows Credibility of Fiscal Plan
Polish Opposition Hails Biggest Protest Since Communist Era
IMF Urges Action as Negative Rates Infect Danish Property Market
- EUR: Through the Asian session and into London the Euro was a little quiet with the market moving around the 1.1400 levels through Asian and then rising into the London session to trade into a 1.1420-30 range through to the release of the NFP, with NFP showing lower than expected the market spiked to the 1.1480 levels before dropping as the average earnings came in unchanged to expectations, this reversed the market and the dip back to the previous levels followed, and once that was over with the market again settled into trading around the 1.1420 areas before drifting back through the 1.1400 levels and setting the lows just below 1.1390 and holding just above the 1.1400 levels to the close.
- GBP: The Cable drifted through the Asian session with the market moving towards the 1.4490 levels before drifting back to the 1.4480 and into early lows on the London opening, buying through early part of London saw the market gradually pushing through to the 1.4520 levels before slowing and holding around the 1.4500 levels into the release of the NFP and a similar pattern as the USD initially dipped on the weaker NFP before recovering and the market dropping from the 1.4550 areas to test the 1.4420 level in a quick move ranging through the NYK session around the 1.4450 levels before testing through the lows a little and closing just off those lows.
- JPY: USDJPY drifted from the opening 107.25 levels touching the 107.40 area before the market started to slip back as more of a consequence of the RBA Monetary policy, holding the 107.10 levels into London before slipping below the figure level and drifting sideways until the release of the NFP, the market dropped on the release only to recover after an extended period to eventually make its recovery to close to the opening levels.
- AUD: Opening quietly the market managed to rise towards the 0.7480 levels before dropping quickly on the Monetary policy statement, with a downward revision for future CPI numbers and a reasonably dovish commentary, this sent the market lower trading quickly through to the 74 cent levels before holding into the London session, the opening in London saw the market push to the 0.7370 areas and the market then traded around the 0.7360 areas to the close, and although the market spiked towards the 74 cent level and then tested to the 0.7340 area the market was fairly calm through to the close.
Friday’s premiership results
Actual = A | Consensus = C | Previous = P | Revised = R All timings GMT
JPY Monetary Base Y/Y Apr A 26.80% | C 29.30% | P 28.50%
AUD RBA Monetary Policy Statement
CHF Foreign Currency Reserves Apr A 588B | P 576B
USD Change in Non-farm Payrolls Apr A 160K | C 206K | P 215K | R 208K
USD Unemployment Rate Apr A 5.00% | C 5.00% | P 5.00%
USD Average Hourly Earnings M/M Apr A 0.30% | C 0.30% | P 0.30%
CAD Net Change in Employment Apr A -2.1K | C 0.2K | P 40.6K
CAD Unemployment Rate Apr A 7.10% | C 7.20% | P 7.10%
CAD Ivey PMI Apr A 53.1 | C 52.5 | P 50.1
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